educational purpose- to gain insights on product development process

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Product Development
Presented by- Akshay Pund

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Introduction – Why Product Design Matters?
Every product around us was once an idea
Effective design can make or break a product
Poorly designed products often fail in the market
(example: Google Glass)
A balance of functionality, cost, and customer needs is key

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What is Product Design & Development?
Product Design: Creating
innovative solutions that meet user
needs
Product Development: The entire
journey from idea to market launch
Product Management:
Collaboration between designers,
engineers, marketers,
manufacturers and customers

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The Product Design & Development
Process

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Systematic Search for New Product Ideas
Idea Generation-
Internal sources
Customers
Competitors
Distributors
Suppliers
Idea Screening-
Market Size
Product Price
Development Time & Costs
Manufacturing Costs
Rate of Return

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Product Lifecycle Stages
• Introduction – High cost, low
revenue.
• Growth – Demand increases,
production scales.
• Maturity – Peak sales, competition
increases.
• Decline – Newer products replace
older ones.

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Importance of Planning
Avoids cost overruns
and delays.
Ensures compliance
with industry
standards.
Reduces risks
associated with
product failure.
Aligns with market
demands and
business goals.

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Product Roadmap & Planning
Vision: What the product aims to achieve
Goals: Short-term & long-term objectives
Features: Planned functionalities & improvements
Timelines: Estimated release dates & development phases
Stakeholders: Teams involved (Engineering, Marketing, Sales, Support)

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Types of Product Roadmaps
Strategic Roadmap: High-level, long-term vision (1–5 years)
Release Roadmap: Timeline of upcoming feature launches
Feature Roadmap: Focused on specific improvements in UX/UI or technical
updates
Technology Roadmap: Hardware & software development milestones
Agile Roadmap: A flexible roadmap that adapts based on customer feedback
& sprint cycles

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Skills Required for a Career in Product Development
Technical Skills: CAD, prototyping, material science,
Electronics design, Programming, UI design etc.
Soft Skills: Communication, teamwork, problem-solving,
critical thinking, time management etc.
Industry Certifications: Six Sigma, PMP, DFMEA, Lean, Agile
etc.

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Career Path & Opportunities
Job Roles: Design
Engineer, Product
Manager, R&D Engineer
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Industries: Automotive,
Consumer Electronics,
Medical Devices
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Future Trends: AI-driven
design, IoT-enabled
products, sustainability
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Industry Expectations vs. Academic Learning
• Theoretical knowledge
• Focus on formulas
• Simulated environments
Academic Learning
• Practical problem-solving
• Hands-on experience
• Real-world constraints (cost, materials, manufacturing)
Industry Expectations

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Summary
• It involves design, engineering, business strategy, and user
experience
Product Development is a multi-
disciplinary process.
• PMs decide what to build, why, and for whom
Product Management aligns
technical and business goals.
• Without a clear roadmap, products can fail due to poor execution
Planning, Budgeting, and Road
mapping are crucial.
• Practical experience, real-world problem-solving, and
collaboration are key
Industry Expectations differ from
Academic Learning.
• Emerging trends like AI, IoT, and sustainable design shape the
future of product development
Continuous learning is essential.

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"Great products are not just built—they
are strategically designed, developed,
and managed with a vision!”
Thank You!!